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Cindy Lambert

Capital Gains Withholding Payments? What are they? Does it affect me?

Last year, the Australian Taxation Office (ATO) introduced new requirements to assist with the collection of Foreign Resident’s tax liabilities. This latest change impacts all Sale Contracts where the purchase price is $750,000 or more, regardless of whether you are a Foreign or an Australian Resident. All Vendors selling their property will need to apply for a Clearance Certificate from the ATO to ensure withholding payments are not withheld from their sale proceeds. If you

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Cindy Lambert

Precedent set – Vendor recovers deficiency in sale price on the resale of their property!

While the current Contract for sale of Land clearly sets out the rights of a Vendor when a Purchaser defaults (unable to settle), we now have a case which supports it {Kelly v Galafassi & Anor [2013] NSWSC680} This Article is a follow on from “Purchaser sued for deficiency in resale price – a real case to follow!” To recap:  Toni Collette and her husband David Galafassi  (the Purchasers) entered into a Contract to buy

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Cindy Lambert

Is your swimming pool compliant? New laws kick in from 29 April 2014!

If you are thinking of selling your property and you have a Swimming Pool or a Swim Spa/Spa Pool you need to read this: Is your Swimming Pool or Swim Spa/Spa Pool registered on the Swimming Pool Register? For the last 12 months pool owners have been obligated to register their swimming pool, swim spa/spa pool on the NSW Swimming Pool Register (www.swimmingpoolregister.nsw.gov.au). A fine of $220.00 may apply for non registration during this time.

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Cindy Lambert

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